CFOs FORUM
Companies today are exposed to an ever-more-complex array of risks and uncertainties, which are only set to accelerate in the years to come. Whether driven by geopolitical events, volatile financial markets, technology developments, cybersecurity threats, data privacy concerns, or climate change, coping with accelerating change is no longer an advantage, but a necessity.
Businesses have more data than ever, but often they don’t have the full range of capabilities required to analyze that data and turn it into insights on risk mitigation and probability. Enterprises need someone to take the lead in breaking the data, and the risk management functions it informs, out of the siloes they sit in today. There is no one better placed than the modern CFO to take on this job, and no one with a more pressing need to make sure that job is done right.
The events of 2020 brought risks related to public health, climate change, and diversity, equity, and inclusion to the forefront of public consciousness. Yet, too many businesses are failing to incorporate external and ESG risks into their long-term strategies and to think about business model innovations to reorient towards long-term value creation.
Unlike in the past the CFO role is facing new demands from the business and stakeholders as companies embark on digital transformation journeys. The CFO of today must be seen to actively drive the business towards digital readiness in preparation for the ever-challenging business environment that demands for new ways of value creation through a connected customer strategy. Digital technologies are changing rapidly, and the market is flooded with a myriad of Enterprise Solutions creating a challenge to the business in determining the best choice for digital initiatives that guarantee expected Return on Investment (ROI). To protect the business against inappropriate digital, spend the CFO must clearly understand the goals and outcomes of the digital strategy beforehand to ease tracking the performance of the funded digital transformation projects.
As the world opens doors to technological breakthroughs, new technology driven business models are equally presenting new challenges relating to information and data safety. Boards are beginning to ask harder questions regarding the safety of company information and data in view of the changing cyber-attack landscape. Typically, most of the data generated in the business is owned and analyzed by the finance function placing CFOs at the center stage of strengthening the organization’s cybersecurity programs. To shoulder the expanded responsibility of playing part in cybersecurity initiatives, CFOs will be required to have better knowledge in how company information is stored and secured besides approving access to company financial systems.
CFOs FORUM
Companies today are exposed to an ever-more-complex array of risks and uncertainties, which are only set to accelerate in the years to come. Whether driven by geopolitical events, volatile financial markets, technology developments, cybersecurity threats, data privacy concerns, or climate change, coping with accelerating change is no longer an advantage, but a necessity.
Businesses have more data than ever, but often they don’t have the full range of capabilities required to analyze that data and turn it into insights on risk mitigation and probability. Enterprises need someone to take the lead in breaking the data, and the risk management functions it informs, out of the siloes they sit in today. There is no one better placed than the modern CFO to take on this job, and no one with a more pressing need to make sure that job is done right.
The events of 2020 brought risks related to public health, climate change, and diversity, equity, and inclusion to the forefront of public consciousness. Yet, too many businesses are failing to incorporate external and ESG risks into their long-term strategies and to think about business model innovations to reorient towards long-term value creation.
Unlike in the past the CFO role is facing new demands from the business and stakeholders as companies embark on digital transformation journeys. The CFO of today must be seen to actively drive the business towards digital readiness in preparation for the ever-challenging business environment that demands for new ways of value creation through a connected customer strategy. Digital technologies are changing rapidly, and the market is flooded with a myriad of Enterprise Solutions creating a challenge to the business in determining the best choice for digital initiatives that guarantee expected Return on Investment (ROI). To protect the business against inappropriate digital, spend the CFO must clearly understand the goals and outcomes of the digital strategy beforehand to ease tracking the performance of the funded digital transformation projects.
As the world opens doors to technological breakthroughs, new technology driven business models are equally presenting new challenges relating to information and data safety. Boards are beginning to ask harder questions regarding the safety of company information and data in view of the changing cyber-attack landscape. Typically, most of the data generated in the business is owned and analyzed by the finance function placing CFOs at the center stage of strengthening the organization’s cybersecurity programs. To shoulder the expanded responsibility of playing part in cybersecurity initiatives, CFOs will be required to have better knowledge in how company information is stored and secured besides approving access to company financial systems.